Recently, World Commerce & Contracting released its highly anticipated global 2021 Benchmark Report. The report represents the most comprehensive survey of commercial and contracting professionals ever, featuring insights from a diverse group of contract professionals spanning buy-side, sell-side and a multitude of industries. 

Looking at responses from those in the technology/software industry specifically, the report found that, compared to other sectors, technology executives are more highly engaged in contracting excellence, and that contracts are more complex and widespread in their organizations.

Key findings include:

  • 60% of contracts are negotiated (with a higher-than-average amount of resources applied to low and mid-complexity agreements)
  • 32% of the workforce is involved in contract management (as compared to 25% across all industries)
  • 63% of tech sector respondents view operation workload as a barrier to contracting excellence as compared to 56% across all industries
  • 75% of the companies surveyed are considering further technology acquisition and deployment (as compared to 62% across all industries)

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